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Carole Fleck

Biography:

As a senior editor for AARP Media, I cover personal finance issues, the economy, older worker issues, retirement planning and other news affecting people 50-plus.

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Carole Fleck'sPosts

Older Job Seekers Have Little Patience for Long Search

Posted on 02/6/2014 by | Money and Work | Comments

WorkWhen it comes to the stressful search for a job, older workers apparently have less tolerance for the process. Most either land a job or stop searching altogether within a year or less, according to a study by the Center for Retirement Research at Boston College. Those who have employer-paid pensions, retirement assets and Social Security to rely on were more likely to end the job hunt even sooner, usually within four months, the study found. In fact, just being eligible …

Tools to Shore Up Retirement Savings

Posted on 01/23/2014 by | Money and Work | Comments

Money & SavingsThe road to retirement may seem uncomfortably short, particularly if you’re in your 50s and haven’t saved much. The latest Federal Reserve data shows that households with people ages 55 to 64 have accumulated a median $120,000 in retirement savings. That amounts to about $400 to $500 a month in income, according to a CNBC report, on top of the average monthly Social Security benefit of $1,294. If you’re 10 to 15 years out from your projected retirement date, it’s …

Timing of Fiduciary Rule for Retirement Plans Questioned

Posted on 01/15/2014 by | Money and Work | Comments

Bulletin Today | WorkIf you have a 401(k) or other retirement plan, you may be waiting even longer before new government standards are imposed that require your financial adviser to act in your best interest. The U.S. Department of Labor was in the final stages of preparing a proposal that would establish a so-called fiduciary standard for retirement plan advisers, which means they’d be required to put their clients’ financial interests ahead of their own when offering investment advice. A number of consumer groups …

Boomers Downbeat Over Financial Future

Posted on 01/13/2014 by | Money and Work | Comments

Bulletin Today | Money & SavingsWith her wavy long hair, bell-bottom jeans and a peace sign hanging from her neck, Rita Beck was much like other boomer women who came of age in the trippy, turbulent 1960s and 1970s. They attended college in record numbers, seized job opportunities their mothers never had and reveled in their independence. “Our parents scrimped for everything,” says Beck, 58, of Janesville, Wis.  “We boomers came on the scene and said, ‘Who needs to save for a house when you …

Early Tax Filers Will Have to Wait for Refunds

Posted on 12/20/2013 by | Money and Work | Comments

Bulletin Today | Money & SavingsEarly 2013 tax filers expecting a refund will have to wait a bit next year. The IRS says it’s starting the 2014 tax season 10 days later than usual, on Jan. 31, as a consequence of the federal government shutdown in October. The 16-day closure curtailed most government operations and delayed the IRS from updating its processing systems for the new tax season. “The late January opening gives us enough time to get things right with our programming, testing and systems …

Medical Credit Card Issuer Ordered to Make Refunds

Posted on 12/12/2013 by | Money and Work | Comments

Bulletin Today | Money & SavingsA dentist tells an older patient during an exam that she needs expensive treatment. She can’t pay the fee outright, so the dentist immediately arranges financing through a medical credit card plan. A month later, the patient opens her first bill and discovers that the card is not interest-free, as she’d thought. In fact, it carried an annual interest rate as high as 27 percent if she didn’t pay it off within a certain period. Richard Cordray, director of the Consumer …